Zimmer Partners LP Sells 200,000 Shares of Hudbay Minerals Inc. (NYSE:HBM)

Zimmer Partners LP decreased its holdings in shares of Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 600,000 shares of the mining company's stock after selling 200,000 shares during the quarter. Zimmer Partners LP owned about 0.15% of Hudbay Minerals worth $4,860,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Hudbay Minerals by 9,877.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,062 shares during the period. Algert Global LLC bought a new stake in Hudbay Minerals during the 4th quarter valued at approximately $86,000. Plato Investment Management Ltd bought a new stake in Hudbay Minerals during the 4th quarter valued at approximately $95,000. Hsbc Holdings PLC bought a new stake in Hudbay Minerals during the 4th quarter valued at approximately $97,000. Finally, Advisory Services Network LLC bought a new stake in Hudbay Minerals during the 4th quarter valued at approximately $101,000. Institutional investors own 57.82% of the company's stock.

Hudbay Minerals Trading Up 1.7%

Hudbay Minerals stock opened at $8.26 on Tuesday. The business has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $8.13. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 45.89 and a beta of 1.56. Hudbay Minerals Inc. has a 12 month low of $5.95 and a 12 month high of $10.49.

Hudbay Minerals (NYSE:HBM - Get Free Report) TSE: HBM last posted its quarterly earnings results on Monday, May 12th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.10 by $0.14. Hudbay Minerals had a return on equity of 7.29% and a net margin of 3.80%. The firm had revenue of $594.90 million during the quarter, compared to analysts' expectations of $537.36 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts forecast that Hudbay Minerals Inc. will post 0.79 EPS for the current year.

Hudbay Minerals Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 4th were issued a $0.007 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Hudbay Minerals's previous semi-annual dividend of $0.01. This represents a dividend yield of 0.2%. Hudbay Minerals's dividend payout ratio is presently 2.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on HBM shares. Scotiabank restated an "outperform" rating on shares of Hudbay Minerals in a research note on Tuesday, May 13th. BMO Capital Markets initiated coverage on Hudbay Minerals in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. StockNews.com raised Hudbay Minerals from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Stifel Canada raised Hudbay Minerals to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, Desjardins initiated coverage on Hudbay Minerals in a report on Friday, April 4th. They issued a "buy" rating for the company. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $14.00.

Hudbay Minerals Company Profile

Hudbay Minerals Inc, a diversified mining company, focuses on the exploration, development, operation, and optimization of properties in North and South America. It produces copper concentrates containing gold, silver, and molybdenum; gold concentrates containing zinc; zinc concentrates; molybdenum concentrates; and silver/gold doré.

Want to see what other hedge funds are holding HBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hudbay Minerals Inc. (NYSE:HBM - Free Report) TSE: HBM.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.